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Summary

It was reported that former lawmaker Kim Nam-guk was acquitted of charges of hiding virtual assets worth 9.9 billion won.
The prosecution believed that former lawmaker Kim made significant profits from coin investments and falsely reported his assets to hide this.
This ruling may influence legal precedents related to virtual asset investments.

Former Democratic Party lawmaker Kim Nam-guk, who was accused of hiding virtual assets (cryptocurrency) worth 9.9 billion won during his term as a member of the National Assembly, was acquitted in the first trial.

According to the industry on the 10th, Judge Jeong Woo-yong of the Seoul Southern District Court's Criminal Division 9 acquitted former lawmaker Kim, who was charged with obstruction of official duties by deception.

Previously, the prosecution had brought former lawmaker Kim to trial, alleging that he falsely reported his assets to hide the fact that his deposit reached 9.9 billion won due to significant profits from coin investments during his asset declarations in 2021 and 2022.

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